I went to a brown bag speak on the Naval Postgraduate College yesterday and the subject was ChatGPT. The speaker, Rodrigo Nieto, gave an important energetic speak and it was enjoyable to look at the interplay between him and one of many members of the viewers who had used ChatGPT quite a bit.
I had signed up with ChatGPT final month however hadn’t achieved a lot with it. So I spent a giant a part of the afternoon enjoying with it. For instance, I gave it prompts to elucidate the hurt attributable to excessive marginal taxes, within the fashion of Ogden Nash, Edgar Allan Poe, and the King James Bible.
Right here’s the King James Bible model:
And it got here to move that the folks did cry out towards the excessive marginal tax charges, which did burden them tremendously. For the tax charges have been so excessive that the folks did lose their incentive to work and to create wealth. And the financial system did endure tremendously, for the folks had not the means to take a position and to develop.
And the federal government did take an important portion of the folks’s earnings, leaving them with little to maintain themselves and their households. And the wealthy did discover methods to evade the tax, leaving the burden on the shoulders of the poor and the center class.
And the Lord did communicate, saying: “Thou shalt not burden thy folks with excessive taxes, for they shall lose their incentive to work and to create wealth. And the financial system shall endure tremendously, for there shall be no means to take a position and to develop.
“And thou shalt not take an important portion of the folks’s earnings, for they shall have little to maintain themselves and their households. And thou shalt not let the wealthy evade the tax, however shall be sure that all do bear their justifiable share.
“And thou shalt decrease the tax charges, that the folks could have the means to work and to create wealth. And the financial system shall flourish, and the folks shall prosper.”
And the folks did take heed to the Lord, and so they did decrease the tax charges. And the financial system did flourish, and the folks did prosper. And there was pleasure and peace within the land.
The one half that was off was this:
And the wealthy did discover methods to evade the tax, leaving the burden on the shoulders of the poor and the center class.
If you realize something in regards to the progressive tax system, you realize that “the wealthy,” which just about everybody understands to imply “high-income folks,” bear an enormous burden from excessive marginal tax charges. The burden is within the type of each taxes paid and deadweight loss.
Apparently and disappointingly, however understandably, each the Ogden Nash and the Edgar Allan Poe poems had an analogous thought: the concept that wealthy folks efficiently keep away from taxes is widespread.
